Biden administration unveils $100M for new housing

By Ovunc Kutlu

ISTANBUL (AA) - The US President Joe Biden administration announced Tuesday the availability of $100 million through a program that will provide grants to communities for affordable housing production and preservation.

The amount is part of the Pathways to Removing Obstacles to Housing program of the US' Department of Housing and Urban Development, the White House said in a statement.

"Grantees may use awards to further develop, evaluate, and implement housing policy plans, improve housing strategies, and facilitate affordable housing production and preservation," it added.

The rate of new housing starts in the US is up 17% during the Biden administration, compared to the previous administration, according to the White House.

The Biden-Harris Housing Plan, which was announced in March, aims to build over two million new homes to further increase supply and lower housing costs for Americans.

"Building rental units and homes faster means lower costs for consumers: not only will more units get to the market faster, but increasing the speed of construction lowers building costs," said the White House.